Stryker’s (SYK) “Outperform” Rating Reiterated at Wells Fargo & Co
Wells Fargo & Co reiterated their outperform rating on shares of Stryker (NYSE:SYK) in a research report released on Tuesday morning, The Fly reports. They currently have a $174.00 target price on the medical technology company’s stock, up from their previous target price of $166.00. The analysts noted that the move was a valuation call.
SYK has been the subject of several other research reports. Robert W. Baird upgraded Stryker from a neutral rating to an outperform rating and boosted their price objective for the company from $161.00 to $173.00 in a research report on Thursday, November 16th. Needham & Company LLC reiterated a hold rating on shares of Stryker in a research report on Friday, November 3rd. Piper Jaffray Companies reiterated a buy rating and issued a $156.00 price objective on shares of Stryker in a research report on Friday, October 27th. ValuEngine upgraded Stryker from a hold rating to a buy rating in a research report on Tuesday, November 14th. Finally, Zacks Investment Research downgraded Stryker from a hold rating to a sell rating in a research report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $154.60.
Shares of Stryker (SYK) traded down $0.05 during mid-day trading on Tuesday, reaching $158.74. The company’s stock had a trading volume of 862,400 shares, compared to its average volume of 1,107,267. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.63. Stryker has a 12-month low of $116.50 and a 12-month high of $160.62. The company has a market capitalization of $59,425.19, a P/E ratio of 33.92, a P/E/G ratio of 2.27 and a beta of 0.78.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, December 28th. This is a boost from Stryker’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a dividend yield of 1.18%. Stryker’s payout ratio is 40.17%.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $155.34, for a total value of $776,700.00. Following the sale, the insider now directly owns 83,207 shares of the company’s stock, valued at $12,925,375.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 7.40% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Smithfield Trust Co. grew its stake in shares of Stryker by 3.1% in the second quarter. Smithfield Trust Co. now owns 3,263 shares of the medical technology company’s stock worth $453,000 after acquiring an additional 97 shares during the last quarter. Eagle Ridge Investment Management grew its stake in shares of Stryker by 8.8% in the second quarter. Eagle Ridge Investment Management now owns 46,989 shares of the medical technology company’s stock worth $6,222,000 after acquiring an additional 3,815 shares during the last quarter. Callahan Advisors LLC grew its stake in shares of Stryker by 0.8% in the second quarter. Callahan Advisors LLC now owns 63,497 shares of the medical technology company’s stock worth $8,812,000 after acquiring an additional 525 shares during the last quarter. JLB & Associates Inc. purchased a new stake in shares of Stryker in the second quarter worth $5,090,000. Finally, Retirement Systems of Alabama grew its stake in shares of Stryker by 0.4% in the second quarter. Retirement Systems of Alabama now owns 229,214 shares of the medical technology company’s stock worth $31,810,000 after acquiring an additional 813 shares during the last quarter. 74.90% of the stock is currently owned by institutional investors.
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Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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